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Ajman Bank was the first Islamic and Shariah-compliant bank established in Ajman. The bank is renowned for providing exceptional banking services in consumer banking, investment banking, corporate banking, investor relations and more. Ajman Bank is also one of the most sought-after providers of home loans in UAE.
It provides home loan services to UAE and non-UAE residents (Salaried or Self-employed). These services are available at competitive profit rates with flexible tenure for loan repayment. In this article, we are going to learn more about Ajman Bank Home Loan Eligibility to give you a better idea of whether you qualify for it or not.
Ajman Bank offers home loans to individuals (salaried or self-employed) who wish to buy residential property, be it villas, townhouses, apartments, buildings, or compound villas.
These ready properties are financed by Ajman Bank in two types: 1st-rank mortgage and 2nd-rank mortgage. Your eligibility requirements for a home loan may vary depending on the financing option you choose. However, the table below offers the standard Ajman Bank home loan eligibility criteria that you must know.
|Citizenship||UAE Nationals, Residents (including Expats), and Non-UAE Residents|
|Minimum Age Requirement||
|Minimum Salary Requirement||
|Maximum Finance Amount||AED 15 million|
|Maximum Tenure of Home Loan||
|Down Payment Structure||
The following category of people can apply for Ajman Bank Home Loan -
To be eligible for Ajman Bank home loan eligibility, you must have all the following documents ready at the pre-approval stage:
Ajman Bank is the first bank in Ajman to have incorporated seamless Shariah-compliant banking services for customers. The bank currently deals in a wide range of financial services and home loan services. As mentioned above, Ajman Bank offers multiple types of residential properties in the form of villas, apartments, townhouses, etc. And these are available for every eligible UAE national, resident (including expats), and non-UAE resident. Following all the eligibility criteria and necessary documents discussed above, one can easily apply for home mortgage services by Ajman Bank.
Ans: Home loan properties by Ajman Bank are classified into three types: Freehold Properties, Non-Freehold Properties, and Leasehold Properties. Depending on what property you choose for your home finance, your profit rates and other eligibility will differ accordingly.
Ans: Life Takaful (insurance) is mandatory if the property is still under construction. Once the property being financed is complete, both Life and Property Takaful (insurance) becomes necessary.
Ans: Ajman Bank mortgage finance does not offer a deferment policy by default. If you need to defer an instalment payment as per the repayment plan, a special request must be submitted well in advance to the Bank.
Ans: No, Ajman Bank’s home loan mortgage services are open to all eligible customers. There is no need to have an existing Ajman bank account.
Ans: There are 3 ways in which you may apply for home loan services from Ajman Bank: